In this lesson
- find out why to keep records from your very first purchase
- see an example of national crypto tax rules (the Czech Republic since 2025)
- understand what the EU's DAC8 directive means for you
Taxes are not the most fun part of crypto. But forgotten records can cost more than a bad trade. This lesson is no substitute for a tax adviser – it shows what to think about, so you are not later hunting for receipts from 2021.
Why keep records#
For every purchase and sale, write down:
- date and time,
- what and how much you bought or sold,
- the price in your currency and the fee,
- where (exchange, wallet).
Without this you cannot work out whether you made or lost money – or prove how long you held the coins. Most exchanges let you download your history as a file; download it regularly, since an exchange can go bust or shut down.
An example: taxes in the Czech Republic (since 2025)#
Tax rules differ from country to country – check yours. As an example, since 15 February 2025 the Czech Republic has two tax exemptions for income from selling crypto:
| Exemption | Condition |
|---|---|
| Small income | total income from selling crypto in a year does not exceed CZK 100,000 |
| Holding test | more than 3 years passed between buying and selling (the CZK 40 million yearly cap is shared with securities) |
Important details:
- CZK 100,000 is income (what you received from the sale), not profit. Exceed it by a single crown and all income that does not pass the holding test is taxed – not just the part above the limit.
- The exemptions do not apply to e-money tokens (stablecoins tied to the euro or dollar, such as USDC) or to crypto held as business assets.
- A "sale" usually also includes swapping one cryptocurrency for another or paying with crypto.
Rules change and every situation is a little different – for larger amounts, talk to a tax adviser.
DAC8: exchanges report trades to the authorities#
Since 1 January 2026, the EU's DAC8 directive applies. Crypto-asset service providers collect data about their customers and their trades and pass it to tax authorities – the first exchange of data for 2026 takes place by the end of September 2027. In practice: the tax office will know about your exchange trades, even if you never tell it.
Don't wait until the last minute
Piecing together years of trades from several exchanges after the fact is a pain, and mistakes creep in easily. Record them as you go – a spreadsheet or a portfolio-tracking app is enough.
Common myths#
- "Only what I send to my bank account is taxed." Selling or swapping crypto can already create a tax obligation.
- "The tax office won't find out." With DAC8, it will.
- "I don't need to record losses." You need complete records – losses affect the result too.
Summary
- Record every purchase and sale: date, amount, price, fee and place.
- Tax rules depend on your country; in the Czech Republic, yearly income up to CZK 100,000 and sales after more than 3 years of holding are exempt since 2025.
- Since 2026, exchanges in the EU report trades to tax authorities (DAC8).
- For larger amounts, talk to a tax adviser.